PERTH (miningweekly.com) − South Africa-focused Nkwe Platinum has pushed back the completion of a bankable feasibility study (BFS) for its Garatau platinum project, to finalise possible joint-venture (JV) negotiations.

The BFS for the Garatau project was initially due at the end of May.

Nkwe said in a statement on Monday that it was in discussions with several parties regarding the joint development of one or more of its tenement farms, which fall under the BFS. It was also reviewing the positive impact that these JV discussions could have on the study.

The platinum hopeful said that it would provide the market with an update regarding both the BFS and its possible JV partners, at the same time.

“The company is aware of its continuous disclosure obligations and should these negotiations reach a more complete level, the market will be informed accordingly.”

Nkwe was aiming to develop its Garatau and Tubatse projects into a combined yearly production of more than one-million ounces of platinum-group metals, from a targeted mineralisation base of more than 100-million ounces.

The Tubatse project has been the subject of much contention since the South African Constitutional Court in December stripped Nkwe’s black-economic empowerment partner Genorah Resources of prospecting rights on two farms which form part of the Tubatse project.

The court set aside the prospecting rights on the Nooitverwacht and Eerste Geluk farms on the grounds that Genorah did not communicate properly with the Bengwenyama community.

Since that time, Genorah has regained its rights over both farms, however, the awarding of the prospecting rights for the Eerste Geluk farm has again been met with discontent, as the Bengwenyama community vowed to appeal the decision.

Nkwe maintained on Monday that this action was “opportunistic”, adding that the company fully anticipated and expected the grouping of communities would dispute the decision by the Department of Mineral Resources, should it prove unfavourable to them, particularly given the litigious backgrounds of the groups.

“Together with local communities, Nkwe will ensure it does everything in its power to protect its rights to this farm, including but not limited to, starting legal action in a variety of capacities if necessary.”

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